MEXICO CITY (AP) — Mexico’s president said Friday the country’s minimum wage will rise by 20% in 2024, to the equivalent of about $14.25 per day.
About one-third of Mexico’s registered workers report earning the minimum wage, which will amount to about $1.75 per hour starting Jan. 1.
The minimum is higher in areas along the northern border, where living costs are higher.
The Mexican currency has risen by about 10% in value against the dollar since December 2022.
That increase is largely attributable to the high inflow of remittances and high domestic interest rates, which make the peso attractive for investors.
This is the best summary I could come up with:
MEXICO CITY (AP) — Mexico’s president said Friday the country’s minimum wage will rise by 20% in 2024, to the equivalent of about $14.25 per day.
About one-third of Mexico’s registered workers report earning the minimum wage, which will amount to about $1.75 per hour starting Jan. 1.
The minimum is higher in areas along the northern border, where living costs are higher.
The Mexican currency has risen by about 10% in value against the dollar since December 2022.
That increase is largely attributable to the high inflow of remittances and high domestic interest rates, which make the peso attractive for investors.
Follow AP’s coverage of Latin America and the Caribbean at https://apnews.com/hub/latin-america
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